Answer:
$554,500
Step by step Explanation:
Therefore: Equity = Assets – Liabilities. Thus, the balance sheets would appear as follows:
Assets
Current asset $248,000
Fixed asset $798,000
Total of Asset=$1,046,000
Liabilities and Equity
Current liabilities $193,500
Long-term debt $298,00
Total liabilities=$ 491,500
To get Stockholders’ equity will be Total Asset minus Total liabilities .
Asset-liabilities
$1,046,000 - $491,500=$554,500
Shareholders equity is $554,500
